Suppose a Professor Gives Up Her Teaching Job to Devote

question 137

Multiple Choice

Suppose a professor gives up her teaching job to devote her time to writing textbooks. If salaries of professors rise,

• A) her accounting profit will rise.
• B) her accounting profit will fall.
• C) her explicit costs will rise.
• D) her economic profit from textbooks will fall.
• E) her economic profit from textbooks will rise.

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Definitions:

Birthrates

The ratio within a population of the number of births per population size over a specific period, acting as an indicator of demographic trends.

High Birthrates

Situations in which the number of live births per thousand people in a population is significantly higher than the global average.

Public Services

Services provided by the government to its citizens, either directly or through the financing of private institutions, to meet basic needs and improve quality of life.

Modernization Theory

A theory suggesting that economic development and societal modernization follow a linear trajectory from traditional to modern states.